Shard-earned Cash

Time to invest in glazing firms. The London Bridge Tower…or Shard of Glass…or Southwark Stalagmite, has apparently secured all the financial goodness a growing tower could need. A merry ensemble of pecuniary playfellows (well, OK, one or two banks) have clubbed together to secure the final funds necessary to build the tower. The money should help boot out PriceWaterhouseCopoper, who are currently keeping the site warm.

"We can start demolishing the existing building towards the end of next year and deliver the completed project between 2010 and 2011," says Irvine Sellar, Chairman of one of the property groups hoping to build the delayed ‘scraper.

Around half the notional spike has already been pre-let to TfL and a hotel chain. If built, it might just be the tallest building in Europe for a time. Note the conditional ‘if’. With these major construction projects it ain’t ever over till the fat lady sings. Which, given the large amount of shatterable glass involved, is far from advisable.